BookMyShow Lays Off 200 Employees As Second Wave Slows Recovery
Last year in May, the company had to let go 270 employees out of 1,450. Of the total revenue, INR 517.61 Cr was operational revenue, while INR 45.42 Cr came as other income, namely interest earned on fixed deposits and current investments. During the period, the company’s total expenses also fell marginally by nearly 2%, from INR 679.69 Cr in FY19 to INR 667 Cr. The company’s net loss for the year increased by 62%, from INR 83 Cr in FY19 to INR 134.73 Cr in FY20. A report quoting an IMA study said 20% of Indian companies had let go of most or all of their employees.